The Energy Department's commitment of $22.9 billion in loan guarantees aims to modernize power grids and enhance renewable energy, promoting savings for consumers.
This initiative is one of the biggest from the department's Loan Programs Office, which supports low-carbon projects and aims to lower pollution and emissions.
The new loan guarantees could significantly upgrade aging transmission lines, with plans for utilities to serve over 14.7 million people across 12 states.
In Michigan, nearly $9 billion in guarantees will help DTE Electric install renewable energy sources while addressing methane leaks by replacing gas pipelines.
#energy-department #loan-guarantees #renewable-energy #infrastructure-modernization #biden-administration
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